Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing the MDA SnapShot levels with potential buy and sell zones for you to consider executing starting your trading day. If you would like to further discuss these trades do not hesitate to contact me directly. If you are not getting these updates sent to your inbox each morning, please subscribe HERE. To see all MDA updates (morning & intra-day levels, trade recaps, educational material) visit my blog page HERE.
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Published 6/28/16 12:53 pm central:
We had our update this morning highlighting how bulls were short term were taking charge. With the 30 min SnapShot chart highlighting the moves higher. After the open, we momentum took us higher and put in a high @ 2018.25. As I mentioned in the opening if you were waiting for a pullback to get long, it didn’t happen. The market did, however, eventually move lower and test the 2008 zone and formed new levels just about the time Europe was closing for the session. I used that pullback to get long and then offset that position at the newly formed POC near 2012.00.
Since that move higher, we were unable to make a new high and have been trading around the POC zone at the current levels. I wanted to send an update with these new levels that could be in play for the remainder of the session.
Two things to note:
- One: The TAS Navigator on the Chart is still green bullish so selling would be against the 30-minute momentum, however, big picture overall we are bearish on larger time frames so downward moves can still occur and be quick. So if you are looking to sell, keep that bias in mind.
- Two: The formation that is occurring with the Market Map Volume on the chart (horizontal price lines over candlesticks). It is creating what some call an “alligator Jaws.” This is when you have 2 large volume profiles occurring at a higher and lower price and a large gap in between them, resembling an alligator mouth. When this type of volume setups we commonly see that “gap” or Jaws get filled. So this would see us break lower and fill that lack of volume price gap. we cold see us break lower down to the 1998-1995 levels, potentially.
Volume has slowed down a bit for the day but if we do begin to move lower we could be set up for a late day sell off, but with Oil trading near $47.50 it may be difficult.
Click image for larger new window:
MDA SnapShot 30 Min Chart:
Below you will see the first update of Levels on S&P from this morning
Published 6/28/16 8:27 am central:
We are seeing a rally from the overnight and early morning hours. Once we broke above the 1995.00 levels we pushed higher and have been forming new levels and trading higher. we are currently trading right at the new top area. I want to see how we open and if we push lower before jumping in on a buy. However, you could always put a feeler out there if you believe we are going to run. The TAS navigator is Green bullish on the 30 min. The hourly time frame we are just breaking above the Top Zone as notified on the grid levels and market action scanner and the Navigator is close to flipping green. However, longer time frames we are still quite strong bearish technically looking at the Market Action Scanner. I have highlighted to potential support resistance zones on the chart based on high volume. We could see us trade between this side range in the next coming days unless we get some geopolitical events to add more bearish or bullish movement
Click Images for larger new window:
Market Action Scanner: S&P
MDA Grid Levels: ES (people ask for my levels on other time frames, these are them)
MDA SnapShot 30 Min Chart: (these are the 30 min grid levels on a chart)
Economic Calendar: Video on how to access on dt pro: https://vimeo.com/160017837
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